The Manufacturers Association of Nigeria (MAN) in its Economic Review for Second Half of 2019 report released in Executive Summary format over the week stated that the utilization of Local Raw-materials in the manufacturing sector increased marginally in the second half of 2019, attributable to the closure of the country’s land borders by the Government in the year.
The report disclosed that this is found impressive particularly coming on the back of a decline in local sourcing of raw materials in the sector.
According the report, the second half of 2019, Local sourcing of raw-materials in the manufacturing sector increased to 64.0 percent from 63.7 percent recorded in the corresponding half of 2018; thus representing 0.3 percentage point increase over the period.
“It also indicates an increase of 7.0 percentage point when compared with 57.0 percent recorded in the first half of 2019”.
Local raw-materials utilization in the manufacturing sector averaged 60.5 percent in 2019; representing 0.02 percentage point decline when compared with 60.3 percent recorded in 2018.